In 2023, Luxembourg led European production volumes of activities auxiliary to financial services and insurance at €33.32 billion, experiencing a 2.71% increase from the previous year. Italy followed closely with €31.46 billion, marking a 0.93% rise. Meanwhile, Germany faced a slight decline with a -0.36% change. Belgium and the Netherlands reported healthy growth at 1.91% and 2.52%, respectively. Austria and Finland showed moderate year-on-year gains, while Greece, Estonia, and Slovenia saw contractions. Over five years, Luxembourg demonstrated robust growth, while other countries showed moderate to negative annual trends.
Future trends to watch include the potential for Luxembourg to continue its dominance. Italy and Belgium might expand their market shares if recent growth rates persist. However, Germany's declining trend could warrant strategic interventions. Emerging markets such as Austria and Finland may present opportunities for growth if current trajectories are sustained. Monitoring economic policies and technological advancements in the finance sector will be critical for future outlooks in Europe.
Top countries in Production Volumes of Activities Auxiliary to Financial Service and Insurance Activities by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Luxembourg | 33,320 | 2023 | +2.28% | +2.71% | View data |
| 2 | 2 Italy | 31,460 | 2023 | +0.88% | +0.93% | View data |
| 3 | 3 Germany | 28,850 | 2023 | -0.51% | -0.36% | View data |
| 4 | 4 Belgium | 11,960 | 2023 | +1.9% | +1.91% | View data |
| 5 | 5 Netherlands | 10,490 | 2023 | +2.39% | +2.52% | View data |
| 6 | 6 Austria | 3,650 | 2023 | +1.45% | +1.86% | View data |
| 7 | 7 Finland | 3,550 | 2023 | +2.72% | +3.2% | View data |
| 8 | 8 Greece | 788.04 | 2023 | -0.96% | -2.18% | View data |
| 9 | 9 Estonia | 163.74 | 2023 | -0.95% | -0.033% | View data |
| 10 | 10 Slovenia | 148.67 | 2023 | -0.71% | -0.88% | View data |
